From what I can tell, the main benefit seems to be in relation to identifying similar-looking tabs. It's unfortunate that they didn't bake in the same security and isolation benefits of Firefox's container tabs, or the "put aside and come back to it later" functionality that (old) Edge and Firefox Mobile's "collections" bring.
I'm also not sure how adding _more_ to the tabstrip will improve utility in Chrome, where tabs so quickly become impossible to manage because the strip doesn't scroll.